[WSBARP] Earnest Money Interpleader Question

[nestor at pplsweb.com]

Well said.

 

 

Nestor Gorfinkel, Attorney at Law

Licensed in Washington & Florida

Florida Civil-Law (International) Notary

 

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From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com>
On Behalf Of Eric Lanza
Sent: Thursday, September 13, 2018 9:49 AM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Subject: Re: [WSBARP] Earnest Money Interpleader Question

 

I am in a similar situation, and recently received some insight from the
attorney for the escrow company as to how the interpleader process plays
out. Here is my understanding of the process after speaking with the escrow
company's attorney.

 

An interpleader action proceeds in two stages: 

1) determining the propriety of interpleading adverse claimants to a fund
held by a disinterested stakeholder, and discharging the stakeholder; and 

2) equitably dispensing the fund among the claimants. 

 

The complaint in interpleader filed by the stakeholder, setting forth its
request to be discharged from liability in connection with a fund subject to
adverse claims, is relevant only to the first stage of the proceeding. 

 

The nature of claims against the fund--determined in the proceeding's second
stage--is controlled by the answers filed by the claimants. 

 

The answer should include a cross-claim against the other named defendant.
The cross claim against the co-defendant requests that the earnest money be
released to your client, and cites the reasons why your client is entitled
to earnest money. 

 

The case is ultimately adjudicated (and funds released) upon resolution of
the cross claim(s). 

 

 

Eric J. Lanza, J.D.



1800 Cooper Point RD SW NO. 8  |  Olympia, WA 98502  

Telephone 360.352.1970  |  Fax 360.357.0844 |   <http://www.jaglaw.net/>
www.jaglaw.net  

 <mailto:eric at jaglaw.net> eric at jaglaw.net 

 

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From: wsbarp-bounces at lists.wsbarppt.com
<mailto:wsbarp-bounces at lists.wsbarppt.com>
<wsbarp-bounces at lists.wsbarppt.com
<mailto:wsbarp-bounces at lists.wsbarppt.com> > On Behalf Of Wesley C. McMahon
Sent: Thursday, September 13, 2018 9:39 AM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com
<mailto:wsbarp at lists.wsbarppt.com> >
Subject: [WSBARP] Earnest Money Interpleader Question

 

Every earnest money dispute I've been involved with was settled prior to
being sent to interpleader.until now.  I was wondering if someone out there
has experience with the process of an interpleader action pertaining to an
earnest money dispute.  

 

I understand the escrow company is the plaintiff, and the buyer and seller
are the defendants in the initial interpleader action.  Is the case then
completely adjudicated in that action, or is another complaint by the
buyer/seller necessary to adjudicate disposition of funds?

 

Wesley C. McMahon

Partner

Moultray & McMahon, PS

 <http://www.moultray.com/> www.Moultray.com

11661 SE 1st Street

Suite 201

Bellevue, WA 98005
Phone: 206-777-1435

E-Mail: Wes at Moultray.com <mailto:Wes at Moultray.com> 

 

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